Personally, I still think embryonic stem cell-based treatments are a decade or more away, but the cells are invaluable in other ways right now.

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And I think if we don't stem the bleeding, what will happen is that millions of Americans will lose their homes in the next year.

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Now, the federal government doesn't have complete control over that, but if our plan is effective, working with the Federal Reserve Bank, working with the FDIC, I think what we can do is stem the rate of foreclosure and we can start stabilizing housing values over time.

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This sounds harsh, but I think Caplan raises a good point: embryonic stem cell research needs to be discussed more broadly, even by institutions or groups that have ethical questions about it.

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"I think that we're foolhardy to not be engaging in federal funding of stem-cell research in the most aggressive way we possibly can, " the wife of Democratic presidential candidate John Edwards of North Carolina told a luncheon meeting of supporters at the City Club of Cleveland.

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"I think this is a really important advance, " says Dieter Egli, an investigator at the New York Stem Cell Foundation and Columbia University.

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